Publicly available records provided by the Financial Industry Regulatory Authority (FINRA) on June 2, 2016 indicate that New Jersey-based National Securities Corporation broker Todd Henrich has been the subject of customer complaints. The securities and investment fraud law firm Fitapelli Kurta is interested in speaking to investors who have complaints regarding Mr. Henrich (CRD# 5931911).
Todd Henrich has spent four years in the securities industry and has been registered with National Securities Corporation in Edison, New Jersey since 2012. Previous registrations include Obsidian Financial Group, which has since been expelled by FINRA, in Red Bank, New Jersey (2011-2012), and National Securities Corporation in Iselin, New Jersey (2011). He is a registered broker with 23 US states and territories.
According to his BrokerCheck report, Todd Henrich has received two customer complaints.
In September 2015, a customer alleged Todd Henrich, while employed at National Securities, executed excessive trades, breached his fiduciary duty, acted negligently, and misrepresented material facts related to an investment. The complaint settled in September 2015 for $26,000, to which Mr. Henrich individually contributed $20,800.
In July 2015, a customer alleged Todd Henrich, while employed at National Securities, executed unauthorized trades, made unsuitable investment recommendations, acted negligently, misrepresented material facts related to an investment, and breached his fiduciary duty. The complaint settled in March 2016 for $25,000, to which Mr. Henrich individually contributed $25,000.
According to FINRA rules and federal securities law, brokers like Todd Henrich are beholden to a fiduciary duty that requires them to act only in the best interests of their clients. This means, for instance, that they can only recommend suitable investments that take into account the client’s investment goals, experience, and risk tolerance. Firms are not permitted to misrepresent or omit material facts related to an investment, as this might cause a customer to invest unsuitably. Brokers and firms who violate applicable rules and regulations may be subject to disciplinary action from FINRA, the Securities and Exchange Commission, or state authorities.
Federal securities law prohibits brokers like Todd Henrich from making untrue or false statements that can mislead their clients, an act referred to as “misrepresentation.” They are also forbidden from omitting material facts regarding an investment, or the effect that an investment could have on the client’s finances. A “material fact” is a piece of information that would be a significant consideration for a reasonable investor in making a decision about an investment. Some examples include the risk level of a stock, the potential return on an investment, or the fees involved with the transaction. Brokers and investment advisers who misrepresent material facts may be subject to disciplinary action.
If you have lost money investing with Todd Henrich, you may be able to recover your losses. Call the securities and investment fraud law firm Fitapelli Kurta at 877-238-4175 for a free consultation. All cases are taken on a contingency basis: Fitapelli Kurta only gets paid if and when you collect funds. Time to file your claim may be limited, so we encourage you to avoid delay. Call 877-238-4175 now to speak to an attorney for free.